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AfDB debars Nigeria’s Maxicare firm for 36-month over fraudulent collusion

By on April 28, 2021 0 122 Views

The African Development Bank (AfDB) on Wednesday said it has debarred Maxicare Company (Nigeria) Limited for 36 months effective from 23 February 2021.

The continental lender said investigation conducted by its anti-corruption office showed that Maxicare Company, registered in Nigeria engaged in collusive and fraudulent practices in the course of doing business with the bank.

AfDB said the Bank’s Office of Integrity and Anti-Corruption established that Maxicare Company was involved in collusive and fraudulent practices during a tender for the construction of weigh stations and supply of equipment under the Transport Facilitation Program for the Bamenda-Mamfe-Abakaliki-Enugu Road Corridor connecting Cameroon and Nigeria.

“The debarment renders Maxicare Company (Nigeria) Limited and its affiliates ineligible to participate in Bank Group-financed projects during the debarment period.

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 “Additionally, the debarment qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions, including the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank and the World Bank Group.

“At the expiry of the debarment period, Maxicare Company (Nigeria) Limited will only be eligible to participate in Bank Group-financed projects on condition that it implements an integrity compliance program consistent with the Bank’s guidelines,” AfDB said in a statement on Wednesday.

The bank said the Transport Facilitation Program for the Bamenda-Mamfe-Abakaliki-Enugu Road Corridor is aimed at increasing trade and strengthening cooperation generally between the countries of the Economic Community of Central African States and those of the Economic Community of West African States and between Cameroon and Nigeria in particular.

According to the continental development lender, the project was co-financed by the African Development Fund, an entity of the African Development Bank Group.

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